Agenda - Council - 03/23/1993 - Laserfiche WebLink

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2. Owner represents and warrants that it is the Owner of 100% of the Subject Property; that it has full legal power and authority to encumber the SubJect Property as herein provided; and that as of the date hereof, it has fee simple absolute title in the Subject Property, which is not subject to an,,, liens, interests, or encumbrances, except as listed on Attachment Two, attached hereto and hereby made a pan hereof. 3. Owner requests that l()0eT(, of the cosl of the Improvement Project be assessed against the Subject Properly. Ov,'ner understands and agrees lhat lhe cosl of Ihe tmprovemenl Project will be. determined in accordance with the Ramsev Cit',' Charier and Ramsey City Code Sections 4.60 to 4.60.23 and standard cit.',, practices nnd thai such cost is estimated to be Dollars ($ ). Special assessments shall be spread on a unit (per lot) basis in accordance v,,ith standard city assessment practices, against the Subject Property exclusive of public right-of-way or land dedicated to the public at the present time or upon future subdivision of thc SubJect Property. 4. Owner waives notice of hearing and hearing on the special assessments levied to finance the Improvement Project pursuant to Cit.',, Code Section 4.60. t0 and specifically requests that the Improvement Project be constructed and special assessments levied therefor without hearings. 5. Owner waives the right to appeal the levv of special assessments in accordance with this Agreement pursuant to City Code Section 4.60. i2, or reapportionment thereof upon land division pursuant to City Code Section 4.60.11, or otherwise, and further specifically agrees with respect to such special assessments of reapportionment that: Any requirements of City Code Sections 4.60 to 4.60.23 with which the Git>, does not comply are hereby waived by Owner. The increase in fair market value to the Subject Property resulting from construction of the Improvement Project will be in an amount of at least the amount of the total potential project cost specified in para~aph .3, above, and that such increase in fair market value is a special benefit to the Subject Property. Assessment of 100% of the cost of the Improvement Project against the Subject Property is reasonable, fair and equitable and there are not other properties against which such cost should be assessed. Owner further specifically waives notice and right to appeal reapportionment of such special assessments upon land division pursuant to City Code Section 4.60.11. Owner understands and a~ees that the City ma.',, provide for the payment of such special assessments in installments bearing such interest as may be determined by the City Council. However, the decision whether to allow payment in installments, the period of time over which the special assessments may be paid and the interest rate to be applied is in the absolute and sole discretion of the City Council, subject only to limitations imposed by law. . The covenants, waivers and a~eements contained in this A~eement shall bind the successors, and assigns of the Owner and shall-run with the land legally described in Attachment One and bind all successors in interest thereof. It is the intent and agreement of the parties hereto that this Ag'reement .~ in a form which is recordable in the office of the Count5, Recorder of Anoka Count>,, Minnesota and agree to make any changes in this Agreement to effect the recording and filing of this Ag-reement against the title of the Subject Property.